Macquarie Bank buys 7% in Orchid Chemicals

Macquarie Bank buys 7% in Orchid Chemicals
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First Published: Wed, Jan 02 2008. 02 04 PM IST
Updated: Wed, Jan 02 2008. 02 04 PM IST
PTI
Mumbai: Global investment banking and equity research firm Macquarie Bank has acquired 6.84% in pharmaceutical company Orchid Chemicals for Rs115.78 crore.
Macquarie Bank bought 4,500,000 shares amounting to 6.84% stake in Orchid Chemicals through secondary market purchase route on 27 December, Orchid Chemicals said in a disclosure to the Bombay Stock Exchange.
Calculated on the basis of the closing price of Orchid Chemicals on 27 December (Rs257.30), the deal value amounts to about Rs115.78 crore.
Shares of Orchid Chemicals were trading at Rs291.10, down 1.77% on the BSE in morning trade.
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First Published: Wed, Jan 02 2008. 02 04 PM IST